You are offered a loan at a rate of 4.5% compounded monthly. What semiannually compounded nominal rate
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You are offered a loan at a rate of 4.5% compounded monthly. What semiannually compounded nominal rate would a competing bank need to offer in order to provide an equivalent rate?
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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